Bill Mitchell — Workers in UK enduring real wage cuts except the unproductive bankers

Summary:
It is Wednesday and I have three live presentations to make throughout the day. So we will be brief today. The ABS released the latest Wage Price Index today which shows that annual wages growth in Australia was 2.3 per cent, compared to the official inflation rate of 3.5 per cent. I will analyse that data in detail tomorrow, given I am short of time today. But there was also disturbing data coming out of the UK last week on the wages front, which reflects a major imbalance in priorities and also tells me that there is no wage demands driving the current inflationary episode.…Bill Mitchell – billy blogWorkers in UK enduring real wage cuts except the unproductive bankersBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University

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